May 25, 2017 - Industry News
String’s marketing intelligence platform will be matched with Experian’s own data-driven insights. The combination will direct dealers on how to spend marketing dollars and where to target their conquesting efforts, officials said.
Tags: Data, digital marketing, Experian Automotive, String Automotive
An Orange County Superior Court Jury sided with a former Nissan dealer who claimed the automaker’s captive financing arm forced him out of business during the Great Recession, awarding him $121.9 million in compensatory damages and $134.6 million in punitive damages.
Tags: Floorplan Financing, inventory financing, Nissan Motor Acceptance Corp., Superior Automotive Group
May 24, 2017 - Industry News
Black replaces Terry Koebbe, who will retain his title as CEO. Black will also operate as COO, a title he's held for the last six years.
Tags: Appearance Protection, Dent Wizard, dent-and-ding, F&I products, Mike Black, Terry Koebbe
By a three-to-one margin, voters surveyed in seven key battleground states said they prefer a bipartisan commission over a single director.
Tags: CBA, CFPB, compliance, Consumer FInancial Protection Bureau
Through a partnership with eOriginal, Westlake Financial has digitally transformed its dealership management system into an econtrating solution for its network of more than 20,000 new- and used-car dealers.
Tags: econtracting, eOriginal, Westlake Financial Services
CDK Global has entered into a definitive agreement with Auto/Mate to acquire the technology company, which provides a suite of DMS products and solutions to more than 1,000 new-car dealerships. The transaction is expected to close later this summer.
Tags: Auto/Mate Dealership Systems, CDK Global Inc., Data, DMS, DMS integration, Mike Esposito
May 23, 2017 - Industry News
America’s 9,600 international nameplate dealers reinforced their opposition to a border adjustment tax that say will cost U.S. consumers $34.6 billion or about $2,000 per vehicle.
Tags: AIADA, American International Automobile Dealers Associat, Donald Trump
The business consulting firm recognized AutoGravity for transforming the automotive finance industry with its 'first-of-its-kind fintech platform.'
Tags: AutoGravity, digital marketing, digital retailing, online F&I, Third-party leads
UpdatePromise’s customers will immediately gain access to GoMoto’s kiosk platform as a result of the partnership, while GoMoto’s kiosk customers will be able to incorporate the UpdatePromise consumer experience lifecycle solution.
Tags: brand loyalty, digital marketing, GoMoto, UpdatePromise
Auto Dealer Today named the winners of the 13th annual Dealers’ Choice Awards.
May 22, 2017 - Industry News
The company’s AVH-3300NEX offers a motorized touchscreen display that's seven inches wide and two inches tall, making it an easy installation on older and collectible vehicles. And like the other four models, it offers audiophile-grade sound features, Bluetooth connectivity, and is compatible with Apple CarPlay and Android Auto.
Tags: aftermarket accessories, Infotainment Systems, used-vehicle sales
More than a year after being hired to lead the automaker's ‘Smart Mobility’ innovation unit, Jim Hackett was named Ford’s CEO and president. He replaces Mark Fields, who ends his three-year tenure at the helm of Ford Motor Co.
Tags: Ford Motor Co., Hire, Jim Hackett, Mark Fields, Promotions
Average wholesale used-vehicle prices reached $11,141 in April, a 2.2% increase from March and a 2.5% increase from a year ago, Tom Kontos reported. The only three segments registering declines were compact, mid-size, and luxury cars.
Tags: Tom Kontos, used-vehicle sales, Wholesale Values
May 18, 2017 - Industry News
The feat comes almost nine years after the Great Recession, when household debt reached $12.68 trillion. But the debt and its borrowers look quite different today, the New York Fed noted, and auto finance sources showed signs of tightening in response to some deterioration in auto loan performance.
Tags: auto finance, Delinquencies, Federal Reserve Bank of New York, Originations, Oustanding Auto Loan Balances
Jumpstart Automotive Media reports strong gains among domestic manufacturers in its monthly insights report. It also reveals that Chevrolet passed Ford as the brand with the most shopper interest across the firm's portfolio of automotive publishers.
May 17, 2017 - Industry News
The next generation of ValuEngine features a new, easy-to-use web interface, according to Black Book. The tool is a real-time collateral valuation tool designed to allow users to value their entire portfolio through a secure, on-demand, self-service platform.
Dealer Portal 2.0 features a new, responsive design and additional functionality and enhancements. The new features are designed to make econtracting GWC Warranty service contracts easier and faster, officials said.
May 16, 2017 - Industry News
William “Bill” Berman, who is credited with developing AutoNation's processes for used-vehicle sales and customer care, has resigned. Chairman and CEO Mike Jackson has assumed his duties until a replacement is named.
Tags: AutoNation, Dealer Group, Mike Jackson, Promotions, William Berman
DealersLink says its new booking tool features an improved VIN scanner and state-of-the-art enhancements.
The F&I product provider helped raise more than $59,000 for the Cleveland Christian Home’s annual 5K and Run for the Kids event. In total, the event raised more than $72,000 to support the organization’s 17-plus community outreach programs.
Tags: charity giving, F&I products, National Automotive Experts
May 15, 2017 - Industry News
Analysts with Swapalease.com report lease approvals fell from more than 75% in March to 60% last month.
May 13, 2017 - Industry News
The company says a pilot program for the new solution reduced response times and improved appointment-setting rates by up to 15%.
May 11, 2017 - Industry News
Launched in April, Clearlane will soon be getting an upgrade. Through eOriginal, the auto finance marketplace will soon allow car buyers to sign and submit their financing documents online or via mobile devices.
Tags: Ally, auto finance, Clearlane, digital retailing, online F&I
Executives with the former AmeriCredit Corp. described GM Financial’s transition to General Motors’ captive finance source as ‘substantially complete’ during its recent first-quarter earnings call.
Tags: auto finance, GM Financial
May 10, 2017 - Industry News
The impact of wider access to credit on repayment rates could be causing auto finance sources to reevaluate their guidelines for subprime and nearprime borrowers.
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